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Bird flu & McDonalds?
Silver Is A Must Buy, Bird Flu Interrupts McDonald's Breakfast, Gavin Newsom Struggle With Insurance Company And More...
The Daily Ninja 7/7/24
Updates From The Economic Ninja
(7/6/2024)
๐ธ State Farm's ultimatum to not renew 72,000 insurance policies in California will devastate many homeowners and lead to skyrocketing prices in the real estate market.
๐ Homeowners in California are facing a massive insurance crisis, with State Farm requesting rate increases of 30% for homeowners, 52% for renters, and 36% for condo owners.
๐ The state's insurance industry is described as a ticking time bomb, with a mass Exodus of carriers straining the state's insurance of Last Resort.
๐ธ State Farm's proposed rate increase could lead to a seismic level premium shock for policyholders in California.
๐ฅ The state-funded insurance company will face its greatest test during Wildfire season, with policyholders likely to be contacting them for new homes.
๐ Insurance companies walking away from California due to wildfires could put a strain on the state's insurance industry, backed up by the government.
๐ The current economic and political climate, combined with inflation and government turmoil, make the upcoming election extremely crucial.
๐ Exciting times are ahead, as the light at the end of the tunnel is getting brighter amidst the darkness.
(7/5/2024)
๐ข๏ธ Adding a new tax to Chevron in Richmond will lead to losing jobs and higher gas prices.
๐ฐ Workers worry about their jobs as Richmond adds a special tax on Chevron, potentially causing massive layoffs.
๐ข๏ธ Chevron's potential response to the oil tax could result in less oil being refined at the plant, impacting the local economy and job opportunities.
๐ข๏ธ Richmond, California's new oil tax may drive businesses away to more tax-friendly states like Texas, impacting the local economy.
๐ฐ "City council members get richer, people lose more jobs, and the jobs have to filter somewhere else because the refining happens somewhere else."
๐ณ The city council's vote to add a new oil tax is not going to help the environment, as they may only use a small portion of the funds for environmental enrichment.
๐ผ The new oil tax in Richmond, California could lead to massive layoffs and higher gas prices, affecting everyone in the country.
๐ฐ The Richmond tax will affect unions and have a significant impact on jobs in California.
(7/6/2024)
๐ฐ There's a lot left unsaid about how banks make money selling mortgages and convincing you to take out a mortgage with them.
๐ Compare exact apples for apples mortgage products to save thousands of dollars immediately and tens of thousands over the next few years of the loan.
๐ณ Improving your credit score can lead to better mortgage rates, as banks see you as less of a risk.
๐ก Some builders offer to buy down the mortgage rate for a limited time, so it's important to understand the terms and not just focus on the initial rate.
๐ Keeping an emergency account can help protect your home and credit score in times of financial hardship.
๐ Mortgage companies charge points to price in the risk of you leaving for a lower rate, especially in a falling real estate market.
๐ฐ Locking in your mortgage rate can potentially reduce it, but be aware of associated fees and ask about the lock-in date and float down options.
Keep Crushing It!
-Ninja Out